OKYO Pharma Ltd (NASDAQ:OKYO) has appointed ophthalmology veteran Robert Dempsey as its new CEO.
The NASDAQ-listed, clinical-stage biopharmaceutical company said Dempsey takes on the CEO role with immediate effect and will also join the board as an executive director.
Outgoing CEO Gary Jacob will move into the role of chief development officer and remain on the board.
OKYO is focused on developing therapies for neuropathic corneal pain (NCP), a severe eye condition with no FDA-approved treatment, as well as other inflammatory eye diseases. The company said the transition ensures continuity in strategy while positioning OKYO for its next phase of growth, particularly around its lead asset, urcosimod.
Dempsey brings more than 20 years of global experience in ophthalmology drug development and commercialisation. He previously served as group vice president and head of global ophthalmology at Shire, prior to its acquisition by Takeda, where he led the development and launch of Xiidra, one of the most successful branded dry eye therapies globally.
Founder and chairman Gabriele Cerrone said Jacob’s leadership over the past four years had established a strong foundation for the company. “Robert has been directly involved in the commercialisation of two of the most successful blockbuster dry eye therapies, Xiidra and Restasis, including leading the introduction of Xiidra, and now brings that same execution and commercial discipline to advancing urcosimod,” Cerrone said.
Dempsey said he was honoured to lead OKYO and build on the work already completed by the team.
“The company’s scientific foundation and focus on addressing significant unmet needs in neuropathic corneal pain and inflammatory eye diseases represent meaningful opportunities to impact the lives of patients,” he said. “I look forward to leveraging my experience to accelerate urcosimod and broaden the company’s strategic potential.”
Jacob described the appointment as a “seminal event” for the company, adding that Dempsey’s experience across drug development, commercialisation and value-creating transactions would be critical as OKYO progresses urcosimod into further stages of development.
The board of directors unanimously approved the leadership transition, which is effective immediately.